Blue Springs, Mississippi Property Taxes
The median property tax rate in Blue Springs, MS is 1.43%, significantly higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Blue Springs at $50,382, the typical annual property tax bill reaches $805, which is below the national median of $2,690. Property taxes in Blue Springs are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Blue Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Blue Springs or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Blue Springs, Mississippi Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,620
Ownwell’s Blue Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blue Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blue Springs to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Blue Springs, Mississippi
Property taxes in Blue Springs, Mississippi, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Blue Springs is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within Blue Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blue Springs estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Blue Springs' effective property tax rate to other areas in Mississippi and the national median. For comparison, the zip code 38828 has both the highest and lowest median property tax rate of 1.43%. Understanding how these areas compare with Blue Springs provides valuable insights into the varying tax landscape across Pontotoc County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blue Springs Tax Rate
1.43%
Average Pontotoc County Tax Rate
1.32%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blue Springs, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38828 | 1.28% | 1.30% | 1.43% | 1.92% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Blue Springs, Mississippi
In Blue Springs, Mississippi, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Pontotoc County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. Blue Springs has a median home price of $50,382, with tax bills ranging from $370 at the 25th percentile to $2,292 at the 90th percentile. The highest median tax bill in the area is $805 in zip code 38828, which also has the lowest median tax bill. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Blue Springs, Mississippi
Source: Ownwell
$22,579
$94,988
$167,396
Average Blue Springs Assessed Value
$50,382
Average Pontotoc County Assessed Value
$62,532
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blue Springs, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38828 | $12,900 | $22,837 | $50,382 | $103,542 | $163,502 |
Source: Ownwell
Property Tax Bills Across Blue Springs, Mississippi
In Blue Springs, located in Pontotoc County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as the home's location, size, and condition can influence its assessed value. For instance, the median home price in Blue Springs is $50,382, and homeowners can expect varying tax bills depending on their property's assessed value. Tax bills in Blue Springs show significant variation. The 25th percentile tax bill is around $370, while the 75th percentile reaches $1,547, and the 90th percentile climbs to $2,292. These figures indicate that many homeowners face tax bills higher than the national median property tax rate of 0.99%. The highest and lowest median tax bills in the area are both $805, highlighting some consistency within specific zip codes. Understanding these factors can help homeowners better anticipate their property tax obligations and plan accordingly.
Average Blue Springs Tax Bill
$805
Average Pontotoc County Tax Bill
$913
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Blue Springs, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38828 | $215 | $370 | $805 | $1,547 | $2,292 |
Source: Ownwell